Europe and US Receive Good Grades for PFMI Implementation; Japan Receives the Best Grade -
Regulators in the European Union, Japan and the United States have made “good progress” in implementing the Principles of...more

Settlement of the SEC Action Against Chinese Auditors Regarding Production of Workpapers -
Earlier this month the US Securities and Exchange Commission (SEC) agreed to “stay” the administrative action (meaning the SEC...more

US Judicial Developments -
Receiver can be subject to arbitration. The court-appointed receiver for hedge funds used as part of a Ponzi scheme sued the scheme’s “net winners” in an effort to claw back their gains....more

The year 2014 brought further development and maturity to Canadian securities class action regimes but the case law continues to reveal discordant themes.
Preliminary issues relating to jurisdiction, the leave test and...more

In an Order of Settlement released February 6, 2015, the SEC agreed to stay the administrative action against the Chinese affiliates of the “Big Four” accounting firms for refusing to turn over their audit work papers...more

The time has come for Canadian securities regulators and stock exchanges to revisit the application of securities laws and policies to the use of electronic communications for the disclosure of material information. Existing...more

The Third Circuit recently clarified the extraterritorial limits of the federal securities laws, as the U.S. Supreme Court defined in Morrison v. National Australia Bank, Ltd., 561 U.S. 247 (2010). See United States v....more

ESMA Publishes Final Technical advice on the MiFID II Directive and MiFIR -
On December 19, 2014, the European Securities and Markets Authority (ESMA) published final technical advice (ESMA/2014/1569) to the European...more

EIOPA Updates Risk Dashboard -
On December 18, the European Insurance and Occupational Pensions Authority ("EIOPA") published an updated version of its risk dashboard (dated December 19), together with a background...more

How To Use This Guide:
Private Equity and Venture Capital in Europe -
Finance in Europe has been the subject of a wide range of new regulation since the onset of the economic downturn in 2007- 08. Increased...more

A “world tour” was at the center of FCPA violations by two employees of FLIR Systems, Inc., In the Matter of Stephen Timms, Adm. Proc. File No. 3-16281 (Nov. 17, 2014). Travel was also the focus of the Commission’s latest...more

In recent years, the Supreme Court has decided a number of cases that, alone and certainly in the aggregate, have significantly impacted the ability of plaintiffs to initiate and maintain class actions.
By and large,...more

On 10 November 2014, the Financial Stability Board (FSB) launched a consultation1 on the adequacy of the loss-absorbing capacity of global systemically important banks (G-SIBs) in resolution. The Basel III minimum capital...more

In an interesting and uncommon intersection between securities law, curbing human rights abuses and freedom of speech under the First Amendment, the United States Court of Appeals for the District of Columbia recently agreed...more

On November 18, the US Court of Appeals for the District of Columbia Circuit granted the petitions of the Securities Exchange Commission and Amnesty International for a panel rehearing of the lawsuit challenging the SEC’s...more

In this issue:
- US Court of Appeals for the District of Columbia Circuit Grants Petition for Rehearing of Decision on Conflicts Minerals Rule
- Register for Our 2015 Proxy Season Update Webinar
- SEC...more

The SEC filed another settled FCPA action. The proceeding named two individuals as Respondents. It centers on using expensive gifts and travel as bribes. In the Matter of Stephen Timms, Adm. Proc. File No. 3-16281 (November...more

EBA Consults on RTS on Contractual Recognition of Write-Down and Conversion Powers under BRRD -
On November 5, the European Banking Authority (EBA) published a consultation paper on draft regulatory technical standards...more